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Inflation Meets Market Expectations.
• Bitcoin approaches the milestone of $120,000 with ETH above $4,500 and BNB at $835
• The global crypto market capitalization is $4.04 trillion (down 2.5% in 24 hours)
• The CPI for July was 2.8% and the core CPI was 3.1% (slightly above forecasts)
• Rate cut expectations by the Fed for September rise to a 65% probability
Macro and Regulatory Factors
• Inflation data aligns with expectations, strengthening risk appetite
• The SEC's "Project Crypto" and the GENIUS Act for stablecoins create a clearer regulatory framework
• Technical innovations are gaining ground: ETH Layer 2 solutions, Bitcoin integration in games
• The previous market consolidation (from August 2 to 8) laid the groundwork for the current breakout.